The energy minister of Saudi Arabia – the Gulf kingdom whose wealth and power rests disproportionately on its vast petroleum

Oil prices fell back slightly on Thursday, a day after settling at multi-month highs on U.S. President Joe Biden’s latest

Asia’s middle distillates physical markets turned quiet on the trading window on Thursday, as cash premiums gained to a two-month

Middle East crude benchmarks posted strong gains on Thursday, with Oman and Dubai hitting their highest since November 2022.

The gains

Nigeria’s oil and gas reserves edged up in 2024, the industry regulator said on Thursday, while crude oil production surged

Oil prices steadied on Thursday a day after settling at multi-month highs on the latest U.S. sanctions on Russia and

Energy – US crude stocks fall
Oil prices continued their move higher yesterday with ICE Brent breaking above US$82/bbl and

U.S. crude oil stocks excluding the Strategic Petroleum Reserve (SPR) fell last week to their lowest since April 2022 as

Crude Oil Price Movements

In December, the OPEC Reference Basket (ORB) rose by 9¢, or 0.1%, m-o-m, to average $73.07/b. The ICE Brent front-month contract fell by 27¢, or 0.4%, to average $73.13/b, while the NYMEX WTI front-month contract rose by

Russia’s crude oil and oil products exports fell 350,000 barrels per day last year, though revenue from its exports rose